Sarah Elise Alverson MANGMT 3000 Principles of Management Previously Submitted Lesson Review Lesson Submitted on 10 26 2014 Lesson Number 2 Remember to print a copy of this preview and mark your answers before submitting the actual progress evaluation 10 questions 2 points each 20 points total Multiple choice Choose the one best answer 1 The systematic application of scientific knowledge to a new product process or service is called A innovation B entrepreneurship C intrapreneurship D technology E information development 2 A predictable pattern seen in a technological innovation starting from its inception and development to market saturation and replacement is called a n A organization process B process innovation C technology life cycle D product innovation E product development 3 Why are the late majority adopters of a new product so late A They are skeptical of technological change B They are responding to decreasing social pressures C They approach innovation with great enthusiasm D All of the above are true E None of the above is true 4 indicates whether there is a good financial incentive for pulling off a technological innovation A Technological feasibility B Market receptiveness C Economic viability D Organizational suitability E Competency development 5 One advantage of developing a technology within your own company is A optimal utilization of your resources B cost efficiencies C keeping the technology exclusive to the organization D all of the above E none of the above 6 ABC Company maintains an advantage of having a lower cost than its competitors This is called leadership A technology B differential C low cost D low price E Both C and D are correct 7 Technology leadership imposes high costs and risks that technology followers are not required to bear These include A developing complementary products to achieve the technology s full potential B educating buyers unfamiliar with the new technology C building an infrastructure to support the technology D all of the above E none of the above 8 Which is a primary factor in management s decisions on when to adopt a new technology A ongoing development B gradual diffusion C complementary innovations D all of the above E none of the above 9 have yet to prove their full value but have the potential to alter the rules of competition by providing significant advantage A Base technologies B High technologies C Key technologies D Elevated technologies E Pacing technologies 10 A product champion is someone who A has the status authority and resources to support an innovation B promotes a new technology throughout the organization C develops a new technology D coordinates the technological efforts of various business units E assesses technological implications